Federal Tax Day – Current,T.1,White House Committed to Tax Reform This Year, Mnuchin Says,(Jul. 11, 2017)

July 12th, 2017|Categories: Newsletters|Tags: |

Treasury Secretary Steven Mnuchin has reiterated the Trump administration’s goal of achieving comprehensive tax reform in 2017. "We’re absolutely committed [...]

Cross border GST transactions of digital products and services

July 10th, 2017|Categories: Newsletters|Tags: |

GST on services and digital products: From 1 July 2017, goods and services tax (GST) will apply to cross-border supplies [...]

Investment Fund Set-up

July 7th, 2017|Categories: Newsletters|Tags: |

The Luxembourg investment fund industry is largely benefiting from its location in a strong financial center. The greatest asset of [...]

New International Tax Treaty Landscape for China and Hong Kong

July 5th, 2017|Categories: Newsletters|Tags: |

On 7 June 2017, senior officials and representatives of 67 jurisdictions (including Mainland China, who also represented Hong Kong SAR) [...]

Enhanced Dutch innovation box has been approved

July 3rd, 2017|Categories: Newsletters|Tags: |

The enhanced Dutch innovation box has been approved and has been found not to be harmful. This conclusion is drawn [...]

Transfer pricing of Inter-Company debt into Australia

June 28th, 2017|Categories: AITC, Newsletters|

The Full Federal Court has affirmed the decision of a single judge of the Federal Court, that Chevron Australia had [...]

Automatic Exchange of Financial Account Information (AEOI) – A matter of compliance for wealthy Chinese citizens?

June 22nd, 2017|Categories: AITC, Newsletters|Tags: |

In 2014, the Global Forum endorsed the new common reporting standard on automatic exchange of financial account information (AEOI). Jurisdictions [...]

The Romanian government has recently adopted new measures to combat tax evasion and tax planning

June 19th, 2017|Categories: AITC, Newsletters|Tags: |

The Romanian government has recently adopted new measures to combat tax evasion and tax planning by regulating the mandatory automatic [...]

Malta: A Start-Up Heaven

June 14th, 2017|Categories: AITC, Newsletters|Tags: |

With Malta’s central position in the Mediterranean and the United Kingdom’s Brexit procedures soon to be implemented, the time is [...]

Special Limited Partnership (SLP) as an Alternative Investment Fund solution

June 12th, 2017|Categories: AITC, Newsletters|Tags: |

The SLP can be setup as an unregulated alternative Investment Fund under the AIFMD The Special Limited Partnership is a [...]

The permanent establishment in international tax law

June 8th, 2017|Categories: AITC, Newsletters|Tags: |

The significance of a permanent establishment in international tax law Corporate profits are taxed in full in the state in [...]

Great new follow up article about the US three-year long Swiss Bank voluntary disclosure program that ended January 2016

June 5th, 2017|Categories: AITC, Newsletters|Tags: |

A three-year long Swiss Bank voluntary disclosure program that resulted in non-prosecution agreements with the Department of Justice, netted 80 [...]

Flat Tax: Italy opens its doors to the rich not residents

June 1st, 2017|Categories: AITC, Newsletters|Tags: |

The provision of Agenzia delle Entrate, 8th March 2017, operationalize the provision of Article 1, paragraph 152, of Law December [...]

Have undeclared income from Foreign Accounts? The OVDP program may end after 2017?

May 24th, 2017|Categories: Newsletters|Tags: |

U.S. taxpayers who have foreign bank and/or financial accounts should be watching the clock. The window to Voluntarily Report Foreign [...]

Post-Business Tax to VAT Reform (“B2V Reform”) in China

May 18th, 2017|Categories: Newsletters|Tags: |

Since 1 May 2016, Business Tax has no longer been under China’s indirect tax regime and this signifies the completion [...]

How to Get Profit from Investment in Property in Ukraine – a Guide for Investors

May 15th, 2017|Categories: Newsletters|Tags: |

The real estate market of Ukraine is still very promising, despite the presence of conflict in the eastern part of [...]

Hong Kong – Updates on automatic exchange of information

May 11th, 2017|Categories: Newsletters|Tags: |

Hong Kong has signed agreements with two more jurisdictions – South Africa and Portugal, in addition to six others last [...]

1st US Prosecution for “FALSE” Expatriation Statement

May 9th, 2017|Categories: Newsletters|Tags: |

On February 13, 2017 we posted US Taxpayers & Their Advisors Doing Jail Time for Failing to Declare Offshore Bank [...]

Law on takeover of joint stock companies – Serbia

May 5th, 2017|Categories: Newsletters|Tags: |

This Law shall apply to takeover of the joint stock companies with the registered office in the Republic of Serbia, [...]

Malta’s imputed tax system to stay intact

May 3rd, 2017|Categories: Newsletters|Tags: |

According to Malta’s Finance Minister Edward Scicluna the Malta full imputation tax system is to stay ‘intact’, however there shall [...]

Back-to-back overseas loans to Australia

April 21st, 2017|Categories: Newsletters|Tags: |

Historically, it was not uncommon for Australian resident taxpayers to borrow from a foreign bank, the loan secured over a [...]

Adjustments in the Value Added Tax Law in Turkey

April 19th, 2017|Categories: Newsletters|Tags: |

Some new arrangements have been made in the value added tax law to be implemented as of 1/4/2017. These new [...]

New guidelines for the implementation of the EU Council Directive 2014/107/EU – Malta

April 17th, 2017|Categories: Newsletters|Tags: |

The Commissioner for Inland Revenue Malta has recently issued the latest version of guidelines for the implementation of the EU [...]

Cyprus update on Intra-Group Financing Arrangements

April 14th, 2017|Categories: Newsletters|Tags: |

The Cyprus Tax Department (CTD) has notified the Institute of Certified Public Accountants of Cyprus (ICPAC) of their policy change [...]

Tax Information Exchange Agreement (TIEA) between Argentina and United States to fight Tax Evasion

April 12th, 2017|Categories: Newsletters|Tags: |

On 23 December 2016, Argentina and the United States of America entered into a Tax Information Exchange Agreement (TIEA), which [...]

Executive Brach working on an integral Tax Reform

April 11th, 2017|Categories: Newsletters|Tags: |

The Executive Branch is working on a bill which contemplates an integral tax reform. The aim is to reduce the [...]

Record Tax Amnesty

April 6th, 2017|Categories: Newsletters|Tags: |

On the first quarter of 2016 the executive branch (President Macri Administration) sent a draft bill to the Congress which [...]

Permanent establishment (“PE”) under the Luxembourg Law

April 3rd, 2017|Categories: Newsletters|Tags: |

Luxembourg resident company developing activities in another country may consider establishing a permanent place of business, a branch or a [...]

Recent UK personal tax developments

March 17th, 2017|Categories: Newsletters|Tags: |

Spring Budget and Finance Bill 2017 Please find below links to HMRC and Treasury summaries of the 2017 UK Spring [...]

Central Place of Management and Control revisited

March 15th, 2017|Categories: Newsletters|Tags: |

Wed 15.3.2017 the Australian Taxation Office released a Draft Taxation Ruling TR2017/D2 - Foreign Incorporated Companies: Central Management and Control [...]

Another Travel Ban: Starting Next Month Your US Passport Will Be Revoked For Tax Debts

March 13th, 2017|Categories: Newsletters|Tags: |

On December 21, 2015, we posted Have An Unpaid Tax Bill? Your US Passport Is In Jeopardy of being Revoked [...]

Profit distributions to EU parent companies (EU dividends)

March 10th, 2017|Categories: Newsletters|Tags: |

Profit distributions from an Austrian subsidiary to its parent company are – under certain conditions – tax free. This means [...]

The Legal Way for a Non-resident to Pay in Currency Buying Property in Ukraine

March 7th, 2017|Categories: Newsletters|Tags: |

Recently, more and more foreigners are considering a possibility to buy property in Ukraine, particularly in large and popular among [...]

Slovenia: Changes to determination of residence

March 3rd, 2017|Categories: Newsletters|Tags: |

On the 1. January 2017 the new rules regarding the definition of the non-residence in the 2 paragraph of article [...]

AITC Welcomes the New Turkish and Serbian Members

March 1st, 2017|Categories: Newsletters|Tags: |

The President and the Board of AITC welcome Mr. Mališa Stojadinović of FRC - Financial Reporting & Controlling and Mr. [...]

OECD: OECD Multilateral BEPS Convention

February 22nd, 2017|Categories: Newsletters|Tags: |

It probably did not go unnoticed, but the major development in OECD BEPS projects in the form of a Multilateral [...]

EU: Reimagining the role of tax advisors and VAT jurisdiction

February 16th, 2017|Categories: Newsletters|Tags: |

On the 16th February and interesting consultation that was proposed by the EU Commission has come to an end. The [...]

HNWIs : advantages to become resident in Luxembourg

February 13th, 2017|Categories: Newsletters|Tags: |

In addition to a geographical and a societal situation particularly adapted to HNWIs, Luxembourg offers many advantages on wealth protection, [...]

Tariff or Border Adjustment Tax or US VAT?

February 10th, 2017|Categories: Newsletters|Tags: |

On February 2, 2017 we posted Border Tariff or Border Adjustment Tax? where we discussed that there's a lot of [...]

Hong Kong and Korea entered into agreement on automatic exchange of financial account information in tax matters

February 8th, 2017|Categories: Newsletters|Tags: |

According to the Hong Kong government dated 24th January, 2017, Hong Kong has signed an agreement with Korea for the [...]